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A note on credit market development and human capital accumulation
Ho,Wai Hong
2013-10-01
Source PublicationMacroeconomic Dynamics
ISSN13651005 14698056
Volume17Issue:7Pages:1525-1541
Abstract

This paper explores the interplay between credit market development and human capital accumulation in a two-period overlapping-generations economy with asymmetric information under the assumption that young lenders channel credits to young borrowers and acquire education. We find that, at the self-selection equilibrium, lenders will allocate more time to acquire education if the cost of screening borrowers falls. Furthermore, a longer duration of lenders' schooling time suppresses borrowers' incentive to cheat thereby enabling lenders to screen less frequently. Our preliminary cross-country empirical analysis appears to support these findings.© 2013 Cambridge University Press.

KeywordCredit Market Imperfection Human Capital
DOI10.1017/S1365100512000156
URLView the original
Indexed BySSCI
Language英语
WOS Research AreaBusiness & Economics
WOS SubjectEconomics
WOS IDWOS:000324551200007
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Cited Times [WOS]:3   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionDEPARTMENT OF ECONOMICS
AffiliationDepartment of EconomicsFaculty of Social Sciences and HumanitiesUniversity of Macau,Macao
First Author AffilicationFaculty of Social Sciences
Recommended Citation
GB/T 7714
Ho,Wai Hong. A note on credit market development and human capital accumulation[J]. Macroeconomic Dynamics,2013,17(7):1525-1541.
APA Ho,Wai Hong.(2013).A note on credit market development and human capital accumulation.Macroeconomic Dynamics,17(7),1525-1541.
MLA Ho,Wai Hong."A note on credit market development and human capital accumulation".Macroeconomic Dynamics 17.7(2013):1525-1541.
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